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TPG and Blackstone mull bidding for Clear Channel Europe

The up-for-sale European arm of indebted US outdoor advertising behemoth Clear Channel is being eyed by TPG Capital and Blackstone, it has emerged.

Both the two giant US private equity firms are learnt to be considering acquiring the billboard operator - said to be worth nearly £1.6bn - and as well as its smaller UK rival Exterion Media, which is owned by Platinum Equity. The potential combined entity could be valued at £2bn, The Sunday Times gathers.